The Composite Index BT Indicator is a useful tool for forex traders using the popular MT4 platform. It is a free indicator that helps traders identify trend reversals and momentum in the market. This indicator works by combining the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and Average True Range (ATR) indicators to provide a comprehensive view of market conditions. Traders can use the Composite Index BT Indicator by watching for crossovers, divergence, and extreme values in the indicator to make informed trading decisions. When the indicator shows a strong trend reversal or momentum shift, traders can use this information to enter or exit trades. Overall, the Composite Index BT Indicator is a popular choice among forex traders for its accuracy and ease of use in analyzing market conditions.
MT4
Composite Index BT
Composite Index BT Indicator for MT4 is a useful tool for forex traders. This popular indicator is free to use and provides valuable insights into market trends. By combining various technical indicators, the Composite Index BT Indicator helps traders make more informed decisions. Simply install the indicator on your MT4 platform and use it to analyze market conditions for better trading results.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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